The post Canadians Show Waning Interest in Crypto Investments: Study Finds appeared on BitcoinEthereumNews.com.

A recent study indicates that Canadians’ enthusiasm for crypto investment has diminished in comparison to the previous year. Moreover, they are now less inclined to perceive crypto as a significant factor in the current economy or anticipate its future importance. On November 29, the OSC released its “Crypto Assets Survey 2023,” conducted in collaboration with Ipsos in late May. The survey, which included 2,360 Canadians representing a proportional cross-section of the population in terms of gender, age, and region, reveals a prevailing skepticism toward crypto within the country. Findings The ownership of crypto among Canadians has decreased over the past year, declining from 13% in 2022 to 10% in 2023. In terms of demographics, the majority of these crypto owners are likely to be men aged 25-44, have an undergraduate degree or higher, and are engaged in full-time employment. The percentage of Canadians capable of providing a fundamental definition of crypto increased from 51% in 2022 to 54% in 2023. However, the belief that crypto “will play a key role in the future” has declined to 34%, down from 49% in 2022. Among those surveyed, 77% of crypto asset owners expressed regret over having purchased crypto assets more than a year ago when the figure stood at 68%. In both 2023 and 2022, the primary rationale cited for purchasing crypto is its role as a speculative investment or gamble. However, the number of crypto owners who report buying digital assets as a long-term investment has fallen from 29% in 2022 to 20% in 2023 Crypto trading exchanges continue to be the most common way to acquire BTC and alts, with 52% of owners reporting to have used such a platform, a figure unchanged from 2022. A total of 19% acquired their crypto assets through a decentralized exchange, 16% through mining…

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Filed under: News - @ December 2, 2023 10:18 pm